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發表於 2006-12-21 07:19 PM
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NEW YORK, Dec 20 (Reuters) - Standard & Poor's - Q# K5 X0 w9 ~: l
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on Wednesday changed its outlook on HSBC Holdings Plc (HSBA.L: Quote, Profile , Research) to positive from stable, citing continuing benefits from the company's earnings diversification and global reach." S, A. t% ]- c3 R* s; G3 |8 Y
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The new outlook reflects "the extraordinary diversification of the business profile, which provides a substantial earnings cushion to offset the volatility of individual business lines and geographies," S&P said in a statement.# ?3 [* q9 Q+ S( w
1 a8 E! X6 {3 B. |' Q, y J; J0 w"The earnings mix means that HSBC is managing to produce high-quality group earnings even when individual markets suffer setbacks or hit difficult conditions," S&P said.
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The outlook change also reflects HSBC's unique blend of potentially high-growth emerging market activities with a range of more mature businesses, and a strong enterprise risk management framework, "which is remarkably integrated for such a global group," S&P said.
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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; b( F6 c% ` W# x, I0 h& SS&P rates HSBC's long term debt "AA-minus," its fourth highest ranking. A positive outlook indicates the ratings are likely to be raised over the next two years. * Z5 z- g8 w3 `3 K5 R
5 D) F Q- g) I6 P. ?3 |[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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